ION Fund Management Ltd

CIK 0002105906 · Q1 2026

13F Equity AUM

$706.7M

-17.6% QoQ

Positions

-2 QoQ

AUM Rank

#3,500

Top 28%

Skill Alpha (FF)

—

No alpha data

Quarters Tracked

~0 years

Portfolio Concentration

Top 5: 46.0%Top 10: 67.7%Top 20: 89.7%

TEVA16.4%

DK8.7%

SEDG8.0%

ILMN6.8%

DAC6.1%

PHIN4.9%

NXE4.3%

RIG4.2%

NMM4.1%

VALE4.1%

Others (50)32.3%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Energy28.8%

Healthcare25.7%

Industrials17.4%

Technology14.7%

Consumer Cyclical6.3%

Basic Materials5.2%

Other2.0%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 60Median: 0.30%Avg: 1.67%

0–0.5%

35(6.8%)

0.5–1%

5(3.5%)

1–3%

8(15.3%)

3–5%

7(28.3%)

5%+

5(46.0%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 60Unique: 0vs 20 funds

0.8%Low

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

1.1%

JPMORGAN CHASE & CO

1.2%

BANK OF AMERICA CORP /DE/

1.2%

BlackRock, Inc.

1.4%

STATE STREET CORP

1.5%

VANGUARD CAPITAL MANAGEMENT LLC

1.4%

FMR LLC

1.7%

GEODE CAPITAL MANAGEMENT, LLC

1.4%

VANGUARD PORTFOLIO MANAGEMENT LLC

1.6%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New14Increased12Decreased17Exited16

New Positions

UCTT3.1%

+350K

FLS2.0%

+197K

FLR2.0%

+299K

PBR2.0%

+672K

ONTO0.9%

+30K

LFUS0.4%

+8K

PYPL0.2%

+30K

MSI0.2%

+3K

BVXB0.1%

+120K

AEIS0.1%

+3K

Increased

SHC2.4%

+1.2M(+11834%)

NXE4.3%

+621K(+31%)

SEDG8.0%

+308K(+39%)

RIG4.2%

+92K(+2%)

ILMN6.8%

+58K(+18%)

GLBE0.7%

+55K(+55%)

Q3.6%

+17K(+8%)

SLB0.2%

+8K(+35%)

HAL0.2%

+6K(+16%)

AMZN0.7%

+4K(+20%)

Decreased

VALE4.1%

-494,000(-21%)

DK8.7%

-397,601(-22%)

SLV0.2%

-325,375(-94%)

CHKP0.5%

-228,122(-90%)

TEVA16.4%

-190,557(-5%)

AER2.4%

-140,000(-53%)

XYZ0.7%

-100,000(-56%)

OKTA0.5%

-60,000(-60%)

CIEN1.5%

-48,335(-64%)

TTMI1.4%

-40,000(-29%)

Exited

-230,700

-650,000

-461,000

-1,760,000

-562,314

GDX

-244,630

-449,610

VRNS

-480,000

MNDY

-30,000

Holdings

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